Is pyparsing overkill for this? Maybe, but without too much suffering, it does deliver the desired output, without a thicket of backslashes to escape the '{', '|', or '}' characters. Plus, there's no need for post-parse conversions of integers and whatnot - the parse actions take care of this kind of stuff at parse time.
from pyparsing import Word, Suppress, alphas, alphanums, nums, delimitedList
LBRACE,RBRACE,VERT = map(Suppress,"{}|")
word = Word(alphas,alphanums)
integer = Word(nums)
integer.setParseAction(lambda t: int(t[0]))
patt = (LBRACE*2 + delimitedList(word|integer, VERT) + RBRACE*2)
patt.setParseAction(lambda toks:tuple(toks.asList()))
s = "a word {{bla|123|456}} another {{bli|789|123}} some more text {{blu|789}} and more"
print tuple(p[0] for p in patt.searchString(s))
Prints:
(('bla', 123, 456), ('bli', 789, 123), ('blu', 789))